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C719
Module 10
Question | Answer |
---|---|
Using money as payment | Medium of Exchange |
Using money to measure value / cost | Unit of Account |
Using money as savings | Store of Value |
Money that can be exchanged for something tangible like gold | Commodity money |
Money that is declared by the government to be legal tender | Fiat Money |
Cash + Coins + Checking Accounts | M1 |
Cash + Coins + Checking Accounts + Savings | M2 |
The central bank in the United States | Federal Reserve |
Who controls monetary policy at the Fed? | FOMC |
M2 = M1 + ____________ | Savings |
Money is anything that is accepted as _______________ | Payment |
What function of money is this? Buying a car with cash. | Medium of Exchange |
What function of money is this? Comparing car prices. | Unit of Account |
What function of money is this? savings for a car. | Store of Value |